Meaghan Boden
REALTOR®
Hey there, buyers and sellers! Let's dive into some real estate metrics to help you better understand the current market trends.
First off, the Months Supply of Inventory is at 5.63, which means that at the current rate of sales, it would take about 5.63 months to sell all the available homes on the market. This can give you an idea of whether it's a buyer's or seller's market.
The 12-Month Change in Months of Inventory is showing a slight increase of 0.2%, indicating that inventory levels are inching up slightly over the past year. This could mean more options for buyers but also potentially more competition for sellers.
The Median Days Homes are On the Market is 74, which tells us that homes are selling relatively quickly in this market. If you're a seller, this is good news as your home may not sit on the market for too long.
The Sold to List Price Percentage is at 0.97%, meaning that homes are typically selling for 97% of their list price. This can give you an idea of how much negotiating power buyers may have in this market.
Lastly, the Median Sold Price is $362,495, giving you an idea of the average price of homes that are selling in the area. This can help you gauge the affordability of the market for both buyers and sellers.
Overall, these metrics paint a picture of a market with moderate inventory levels, relatively quick sales, and homes selling close to their list price. Whether you're looking to buy or sell, it's always a good idea to stay informed on the current market conditions to make the best decisions for your real estate goals. Happy buying and selling!
First off, the Months Supply of Inventory is at 5.63, which means that at the current rate of sales, it would take about 5.63 months to sell all the available homes on the market. This can give you an idea of whether it's a buyer's or seller's market.
The 12-Month Change in Months of Inventory is showing a slight increase of 0.2%, indicating that inventory levels are inching up slightly over the past year. This could mean more options for buyers but also potentially more competition for sellers.
The Median Days Homes are On the Market is 74, which tells us that homes are selling relatively quickly in this market. If you're a seller, this is good news as your home may not sit on the market for too long.
The Sold to List Price Percentage is at 0.97%, meaning that homes are typically selling for 97% of their list price. This can give you an idea of how much negotiating power buyers may have in this market.
Lastly, the Median Sold Price is $362,495, giving you an idea of the average price of homes that are selling in the area. This can help you gauge the affordability of the market for both buyers and sellers.
Overall, these metrics paint a picture of a market with moderate inventory levels, relatively quick sales, and homes selling close to their list price. Whether you're looking to buy or sell, it's always a good idea to stay informed on the current market conditions to make the best decisions for your real estate goals. Happy buying and selling!
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